05/22/2015
Submit proof to freeze Abhishek Verma's bank account, says Liechtenstein to ED
This is the second time that Liechtenstein authorities have refused to share the details with Indian agencies.
Regulation, Risk & Compliance
05/21/2015
Books balanced, cash in bank
Operating Expenses are up by $16 million compared to the 2014/15 budget
05/21/2015
Money Laundering Regulations make Cyprus equivalent jurisdiction
The change means that Cypriot service providers to Cayman Islands funds can now undertake anti-money laundering procedure functions
05/20/2015
UBS must buy back investor's Puerto Rico bond funds for $1 million
The decision is unusual because it explains the reasons behind the ruling.
05/20/2015
Finance Ministry: IMDB funds from Cayman Islands are kept in BSI Bank
It also stated that the ministry is amending its answers to Pua in March stating that the Cayman Islands investment funds were redeemed in the form of cash and are still kept in BSI Bank in US currency.
05/18/2015
St. Kitts-Nevis To Bring 2015 Banking Act To Parliament Soon
Despite the turbulence being experienced in Antigua over the 2015 Banking Act, St. Kitts and Nevis will bring the new legislation to parliament within a few weeks
05/05/2015
Italians arrest ex-Swiss banker for 'tax fraud'
Authorities in Milan said on Monday that they have detained a former Swiss banker for allegedly helping wealthy Italian clients evade taxes and launder large sums of money, including the proceeds of embezzlement
05/04/2015
Belvedere update: Mauritius FSC suspends Belvedere’s management licence
Cites failure to comply with the law
04/29/2015
Cyprus : Financial And Investment Law Changes
At the end of January 2015 a number of detailed amendments were made to Cyprus laws regulating the financial and investment sector to align them with EU legislation
04/28/2015
FBI investigates British rogue trader for allegedly stashing millions in C’bean offshore banks
The “flash crash” trader who US authorities want to prosecute over claims that he helped wipe hundreds of billions of dollars off the value of Wall Street stocks, may have a hidden $75 million offshore nest egg.
04/28/2015
Privatisations In Cyprus: The Beginning Of A New Era
As one of the conditions of international support following the financial crisis of spring 2013, Cyprus was required to put in place a framework for the privatisation of state-owned entities and utilities
04/28/2015
BVI Financial Services Industry To Take New Direction
The British Virgin Islands Government has received a report that it commissioned on finding a new direction for the financial services industry
04/28/2015
Belvedere update: Guernsey FSC places three funds into administration
The three fund companies are all managed by Lancelot Management; a Guernsey registered collective investment schemes manager.
04/26/2015
Cayman Islands: LA Passes Aircraft-Related, And Directorship, Bills
All of the bills were passed on April 17 and they are expected to be gazetted shortly.
04/22/2015
Island hosts key regulation conference
More than 200 leaders in alternative asset management and regulation will today kick off a two-day conference that is a first for Bermuda.
04/21/2015
Mary Lou McDonald refuses to apologise over offshore accounts
Sinn Féin deputy leader denies she named politicians to ‘cause public controversy
04/16/2015
New UK visa requirement for Bermudians
Bermudians who travel to the UK for longer than six months and do not have a British passport must obtain a Biometric Residence Permit, Government confirmed this evening.
04/13/2015
Finding the IBOR That Fits Your Institution’s Needs
In searching for an Investment Book of Record (IBOR), financial institutions (FIs) need a solution built to address the need to record, process and distribute investment data in the different views required by stakeholders.
04/10/2015
BERMUDA: ‘Sensible immigration policy vital for growth’
The resolution of Bermuda’s immigration policy is “crucial” for the economy, Shadow Minister of Finance David Burt said yesterday.
04/07/2015
Securities Commission of The Bahamas Signs Additional AIFMD MoUs
The Securities Commission of The Bahamas has signed Memoranda of Understanding (MoUs) under the European Union's (EU) Alternative Investment Fund Managers Directive (AIFMD) with the securities regulators of Cyprus, Austria and Spain.